Going through probate can be a long process. But it’s not always necessary if you properly plan ahead. For example, not all bank and retirement accounts have to go through probate. If you name a beneficiary on your bank and retirement accounts, they are able to avoid the probate process.
You can often name beneficiaries for accounts such as these. Your bank accounts are often able to be designated to pass to someone on the event of the death of the account holder. Investments and retirement plans can also be designated to be payable on death, as can other accounts such as life insurance policies, pension plans, and stocks and bonds.
The process to do this is often very simple, as well. Banks or firms you have your account through often have payable on death forms to fill out. It’s that simple.
For the property that does have to pass through probate however, the court will often require estate executors and administrators to obtain estate surety bonds to protect the interests of the estate and its beneficiaries in accordance with applicable state law.
Where can you purchase instant estate surety bonds?
Colonial Surety offers the direct and digital way to obtain estate bonds, also known as probate bonds, personal representative bonds, administrator bonds, and executor bonds. We are the insurance company — which means no agent, no broker, and no middleman. We make it easy to obtain your bond instantly. The steps are easy — get a quote online, fill out your information, satisfy underwriting requirements, and enter your payment method. Print or e-file your bond from your office. It’s that simple!